Indian tech sector's revenue to surpass $300B by FY26: NASSCOM
What's the story
India's technology industry is expected to surpass a value of $300 billion by the fiscal year 2026 (FY26), according to a recent survey by NASSCOM.
The growth forecast comes despite the prevailing uncertainties in the market.
The survey notes that major advancements in artificial intelligence (AI), particularly the incorporation of Agentic AI, will drive this growth.
AI impact
Agentic AI: A key driver in tech industry growth
Agentic AI, a type of AI that can work independently and make decisions without constant human involvement, is set to have a major impact on business models across industries.
As companies become more dependent on AI, the use of Agentic AI is expected to transform traditional business models.
This transition is likely to propel new efficiencies and innovations in the industry.
GCC evolution
AI's role in transforming GCCs
The NASSCOM survey also sheds light on the changing role of Global Capability Centres (GCCs) in India, which are becoming centers of value and transformation for global firms.
"GCCs in India are no longer just about saving costs; they're becoming critical drivers of innovation," said Sanjay Menon, the Managing Director of Publicis Sapient.
He added that AI lets us streamline legacy processes and focus on more strategic initiatives.
Geopolitical influence
Tech sector's role in geopolitical dynamics
NASSCOM's report highlights the growing intersection of technology and geopolitics, with ongoing trade wars and changing global relations affecting technological strategies across the world. The tech industry's increasing role in these geopolitical dynamics also emphasizes the need for firms to adapt to external pressures.
Workforce transformation
Upskilling tech workforce: A priority for companies
The survey highlights the continuous evolution of the tech workforce as a major trend.
With a greater focus on developing tech skills, bringing AI into the workforce is considered essential to stay competitive.
Companies are focusing on digital resilience and trust, investing more in creating secure, future-proof systems to thrive in this changing environment.